Australian mental health-focused pharmaceutical company Emyria Limited (ASX: EMD) has progressed further along its pathway to securing treatment for post-traumatic stress disorder (PTSD), with the nomination of its first female psychiatrist as ‘authorised’ to treat the condition with the drug MDMA.
The authorisation is granted by federal government agency the Therapeutic Goods Administration (TGA), and this enables the specialist to prescribe MDMA as part of a therapy package to patients with PTSD.
Since its listing in 2020, Emyria has been engaged in research to uncover the impact and potential treatment of mental health conditions with the use of psychedelic drugs, chiefly focusing on MDMA, more commonly known as ecstasy, to aid PTSD and psilocybin – the compound found in ‘magic mushrooms’ – for treatment-resistant depression.
Like many other Australian pharmaceuticals, it has been bolstered by the TGA’s decision in February 2023 to recategorize these drugs as ‘Schedule 8’ – or controlled substances – meaning they could be prescribed under strict conditions by authorised specialists.
CEO of Emyria Dr Michael Winlo said the prevalence of PTSD among women meant that today’s development was a welcome one.
“Our second authorisation demonstrates Emyria’s commitment and ability to increase our service capacity to evaluate emerging treatments for mental health within the strict regulatory frameworks established by the TGA,” he said.
“With the female incidence of PTSD almost twice that of males, we are pleased to support an approach that acknowledges and addresses the specific needs of women suffering from PTSD by supporting the first approved female Authorised Prescriber for MDMA-AT.
“We are excited to be building a unique company that is both directly helping patients
today, while also applying its revenue and unique data insights to support a long-term
innovation agenda. “
Emyria is trading at 6c.